Automotive
Battery Market Industry Analysis, Growth, Trends and Forecast - 2031

The global automotive battery market is anticipated to
grow at a considerable CAGR of 5.4% during the forecast period (2024-2031). The
rising need to address future energy requirements is one of the major factors
expanding the electrical vehicles industry. The rising adoption of electrical
vehicles is driving market growth. In 2019, the global sales of electric
vehicles crossed 2.1 million. As technological progress in electrification
advances and the market for them grows, electric vehicles are expanding
significantly.

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With
the growing electric vehicle industry, the market for automotive battery and
more specifically electric vehicle battery will grow significantly. For
instance, in December 2020, LG Chem Ltd announced its plans to more than double
the production capacity of battery cells it makes in China for Tesla Inc.
electric vehicles (EV) in 2021 to keep up with its US client's growth in the
biggest car market. The firm, a supplier for Tesla's Shanghai-built Model 3,
would also ship its increased output from China and Korea to Tesla's factories
in Germany and the United States.

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Market
Coverage

• Segment Covered- 

o             By Types

o             By Fuel Type

o             By Vehicle Type

• Regions Covered-

o             North America

o             Europe

o             Asia-Pacific

o             Rest of the World

• Competitive Landscape-
  A123 Systems, LLC, BYD Co., Ltd., East Penn Manufacturing Company,
  EnerSys, Exide Technologies, and GS Yuasa Corp 

Key
questions addressed by the report

• What is the market growth
  rate?


• Which segment and region
  dominate the market in the base year?


• Which segment and region
  will project the fastest growth in the market?


• How COVID-19 impacted the
  market?

o             Deviation from the pre-COVID-19
forecast

o             Most affected region and segment

• Who is the leader in the
  market?


• How are players addressing
  challenges to sustain growth?


• Where is the investment
  opportunity?

Global
Automotive Battery Market Report Segment

By
Types

• Lead Acid Battery


• Lithium-Ion Battery


• Others

By
Fuel Type

• Internal Combustion (IC)
  Engine Vehicle


• Electric Vehicle

By
Vehicle Type

• Passenger Cars


• Commercial Vehicles

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